Other equities research analysts have also recently issued reports about the company. Oppenheimer set a $135.00 price target on Zimmer Biomet and gave the company a buy rating in a research note on Thursday, December 6th. UBS Group started coverage on Zimmer Biomet in a research note on Tuesday, November 27th. They issued a buy rating and a $140.00 price target for the company. Jefferies Financial Group decreased their price target on Zimmer Biomet from $145.00 to $140.00 and set a buy rating for the company in a research note on Monday, October 29th. Citigroup upgraded Zimmer Biomet from a neutral rating to a buy rating and raised their price objective for the stock from $122.00 to $127.00 in a research note on Wednesday, January 2nd. Finally, BTIG Research restated a hold rating on shares of Zimmer Biomet in a research note on Sunday, October 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $127.52.
Shares of ZBH stock opened at $120.58 on Tuesday. Zimmer Biomet has a 1-year low of $96.99 and a 1-year high of $134.55. The stock has a market cap of $24.60 billion, a P/E ratio of 15.78, a P/E/G ratio of 2.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.85.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Shareholders of record on Friday, December 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Thursday, December 27th. Zimmer Biomet’s payout ratio is currently 12.57%.
In other news, insider Bryan C. Hanson purchased 2,100 shares of the stock in a transaction dated Thursday, February 7th. The shares were purchased at an average cost of $119.02 per share, with a total value of $249,942.00. Following the completion of the purchase, the insider now directly owns 30,615 shares of the company’s stock, valued at approximately $3,643,797.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Betsy J. Bernard purchased 4,250 shares of the stock in a transaction dated Wednesday, February 6th. The stock was purchased at an average cost of $117.41 per share, for a total transaction of $498,992.50. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $234,820. The disclosure for this purchase can be found here. 0.71% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Legacy Financial Advisors Inc. raised its position in Zimmer Biomet by 176.4% in the fourth quarter. Legacy Financial Advisors Inc. now owns 351 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 224 shares during the period. Clean Yield Group purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $37,000. Doyle Wealth Management purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $41,000. Essex Savings Bank purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $62,000. Finally, NuWave Investment Management LLC raised its holdings in shares of Zimmer Biomet by 6,490.0% in the 4th quarter. NuWave Investment Management LLC now owns 659 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 649 shares during the period. Hedge funds and other institutional investors own 87.82% of the company’s stock.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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